Solar panels may have revolutionized the electrical utilities in residential areas. However, commercial solar panels may be a new idea for most business owners. True, it can be difficult to start something that is out of the norm. But what if this “outside the box” idea can benefit your business more than you think?
Whether your business is just starting or has been around for some time, it can definitely benefit from solar energy. With the skyrocketing electricity costs and usually good roof space in commercial establishments, solar panels can be a sound investment.
Is having commercial solar panels suitable for my business?
Most businesses operate during the day. This reason is why companies can save a lot on their electrical bills because they only have to worry about daytime expenses. Moreover, solar panels do not have any moving parts which can make maintenance costs and maintenance itself minimal.
As per commercial solar panels, the bigger the electricity you consume, the more you can save. So, larger companies benefit more from this setup. But, even small commercial businesses have seen huge savings since they went solar.
Commercial solar panel and expense savings
One main reason that is always brought about when talking about commercial solar panels is financial savings. Although more expensive upfront, commercial solar panels are expected to return enough benefits that will encourage positive cash flow within 2 years.
Not only can you recover your capital, but you also reduce your carbon footprint, and benefit financially for the long term.
Investing in commercial solar panels protects your company from rising grid electricity costs
Data says that energy costs are forecasted to double within the next ten years. This is just less than half the lifespan of solar panels, making them a perfect investment at this moment.
Solar panels are a smart way of obtaining electricity as you own the equipment, which means that you will not be subject to rising grid electricity costs. Moreover, this makes business financial forecasts in terms of utility expenses easier.
Also, solar panels harness solar energy, a renewable source of energy, making your energy source sustainable. By installing commercial solar panels, you are protecting the cost base of your business in your own renewable, clean electricity.
You can earn by selling unused electricity
Some energy companies look for businesses that generate their own electricity and purchase the excess one from the said businesses. This setup is also referred to as purchasing exported electricity.
Once the export meter is already in place, the involved parties must agree on how they will go about the exportation through a contract. Then, the energy companies will offer a reasonable wholesale rate to purchase the unused electricity which they can sell to customers at current retail rates. If you look into it from a business perspective, this setup is a win-win situation for you and the energy company.
Commercial solar panels deliver 15% excess return of investment (ROI)
As mentioned repeatedly, solar panels are a solid investment as they promise good returns. With solar panels, you have a more stable estimate on costs, compared to continuously rising and falling grid costs.
In fact, utilizing solar energy is 60-70% cheaper compared with getting electricity from the grid. Solar panels are also a financial asset that can cancel out the initial capital costs within just a year.
Battery storage in commercial solar panels
Despite solar panels being more on the cheaper side of the spectrum, solar batteries are on the more expensive side. As a business, you may want to minimize additional costs to deflate possible utility expenses.
However, the situation can change. You can use solar batteries to use as a backup supply for your grid electricity to be prepared in power cuts. This scenario seems like a more viable option so you could still continue your operations while waiting for power to be back on.
But right now, it is smarter to sell electricity to grid suppliers than install a solar battery. But who knows what can change in the future?
Commercial solar panels are also efficient in saving the nature
One common trend in the business world is taking the green initiative. For some it can be the procurement of sustainable supplies, using eco-friendly packaging, and for you, it can be utilizing solar energy to significantly reduce carbon footprint.
This initiative is not only for the benefit of the environment. It can also give you a competitive edge among competitors as customers tend to appreciate companies that follow sustainable and environmentally-friendly practices. In fact, some companies can have their “green credentials” which they can flaunt to the market.
For example, a stationary supplier in the UK, Wiles Greenworld, aims to have zero-carbon operations. Right now, they have an 81.8 kW commercial solar panel setup and are able to offset 28 tons of carbon footprints annually while saving around 19, 300 US dollars (14,000 pounds)!
Will a commercial solar panel make your business energy efficient?
New technological investments, especially novel ones, require extensive research before businesses can decide on completely going all out. This investment is not always something that you can decide right away as it will involve a lot of factors in your business. This includes mobilizing your capital, assets, expenses, and possible liabilities into something uncertain at first.
However, once you did your research and started to fish out people who can help you start with your new business initiative, everything will start to fall into place. With the right people, you will feel safe and secured with your new investment. So to answer the question of whether commercial solar panel installation can make your business energy efficient— the answer is yes.
With a possible stream of income through exported electricity, generous return of investments, and the use of sustainable energy in your business practices, commercial solar panels can definitely make your business energy efficient. So, if you are all ready to take the leap in reducing your business’s carbon footprint, securing its energy supply, or just saving money, Spring Solar can help you with the process.